Andrew Bynum is on his way to Chicago. / David Richard, USA TODAY Sports

by Jeff Zillgitt, USA TODAY Sports

by Jeff Zillgitt, USA TODAY Sports

The Chicago Bulls have traded forward Luol Deng to the Cleveland Cavaliers for center Andrew Bynum, three future draft picks and the right to swap 2015 first-round picks with the Cavaliers.

The deal marks the end of Bynum's short tenure with the Cavaliers and Deng's nine-plus seasons with the Bulls.

It was no secret the Cavaliers wanted to part ways with Bynum, who did not work out after signing with the Cavs in July. Cleveland recently suspended him for conduct detrimental to the team, and general manager Chris Grant worked the phones in recent weeks trying to trade Bynum, 26, before his $12 million contract became fully guaranteed this week.

By acquiring Bynum now, it gives Chicago time to waive him by the end of the day on Tuesday, allowing him to clear waivers before his contract is fully guaranteed on Friday.

Once Bynum clears waivers, which is expected, he is free to sign with the team of his choice. Chronic knee Injuries have limited Bynum the past two seasons. He didn't play last season and has struggled this season.

However, there will always be a market - to varying degrees, of course - for a 7-footer who has proven himself in the NBA. Some team will take a chance. Bynum was an All-Star in 2011-12.

The Bulls were conflicted on what to do with Deng. He's in the final year of his contract and will become a free agent after the season. Chicago has always like what Deng provides - solid offense and defense - and while the Bulls' front office executives held some hope they could re-sign Deng, they concluded they weren't going to be able to do so.

Deng was seeking $15-$16 million per season, a person familiar with extension talks told USA TODAY Sports. The person spoke on the condition of anonymity because negotiations for the contract extension were supposed to remain confidential.

The Bulls weren't going to give Deng that much.

This deal should keep the Bulls out of the luxury tax this season - a key factor in the new escalating tax penalty, especially for a non-championship caliber team - and helps them with the dreaded repeater tax in case they are over the luxury tax in future seasons.

This also could just be the beginning of Chicago's attempt to reshape its roster with guard Derrick Rose out for the remainder of another season and a run at a championship with this roster unlikely, especially with the Indiana Pacers in solid position for the next several seasons.

The Bulls still have their amnesty provision available, and it's possible they use it on veteran forward Carlos Boozer after this season. If they did that, it would eliminate $16.8 million from their 2014-15 payroll for salary cap purposes. Chicago would still have to pay Boozer that money, but it would not count against Chicago's salary cap. That would give the Bulls spending freedom in free agency in the summer.

One of the draft picks Cleveland sends to Chicago is a first-rounder, but it is top-12 protected in 2014 and top-10 protected in 2015, 2016 and 2017. If the first-round pick is not conveyed by 2017, it turns into a second-rounder.

Chicago also gets second-round picks from Cleveland in 2015 and 2016, which the Cavaliers got from the Portland Trail Blazers in a draft-day trade in 2013.

Cleveland was in dire need of a capable small forward to play alongside point guard Kyrie Irving and shooting guard Dion Waiters. Again, there are no guarantees Deng re-signs with the Cavaliers, but Cleveland would not have done the deal if it didn't think it had a chance to keep Deng long-term.

Deng, 28, is a two-time All-Star (2012, 2013) and made the All-Defensive second team in 2012. He has averaged 16.1 points, 6.4 rebounds and 2.5 assists in his career and is averaging 19 points, 6.9 rebounds and 3.7 assists this season. Deng has overcome a variety of injuries with amazing dedication to the game.

"We have worked to acquire and maintain flexibility in order to capitalize on opportunities such as this," Cavaliers general manager Chris Grant said in a statement. "Luol reflects all that we are striving for in building our team. He's a tremendous defensive player that can impact the game on both ends of the court with a team-first mentality and is a high character leader."